Podcast Episode 24 – Episode 24 – Financial Planning or Investment Management?

In this episode, I tackle a pet peeve of mine, investment advisors holding themselves as providing “comprehensive financial planning” services.

Look, if you are an investment advisor, a CFA for instance, I have no problem with what you do; managing money for clients.

If you are a financial planner, a CFP for instance, I have no problem with what you do either, engaging in comprehensive financial planning for clients.

What I do have a problem with though is financial advisors holding themselves out as BOTH a financial planner AND an investment advisor.

Even worse, I have a problem with an “advisor” who says he’s going to charge less than what a client is paying his current advisor but neglects to that person he is only going to provide half the services.

That, my friends, is a bait and switch and absolutely should not be tolerated.

Buyer beware when it comes to this stuff. If someone is offering you services for a significant discounted fee, you’d be prudent to wonder why.

Song of the day:
Lynyrd Skynyrd – Four Walls of Raiford

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